LeoVegas Offered For Acquisition By MGM Resorts

On 2nd May 2022, MGM Resorts International announced that it had started its public tender offer to acquire 100% shares of LeoVegas AB, a Swedish online gaming firm. Its offer value is set at $6.20 per share in cash, estimated at $607 million, the total amount of the tender price. The share price represents a 44.2% premium on the last closing price of the casino company, funded with existing money.
LeoVegas's company office.
LeoVegas Offered For Acquisition By MGM Resorts

With the acquisition of LeoVegas, they will expand their global reach. He said that the company had achieved significant success with BetMGM in the United States. He believes their partnership will develop a fascinating opportunity to speed up the international online gaming expansion that considers the potential of their inclusive channel strategy. MGM seeks to pave a path for the Unites States gaming operator to maximise its global presence, especially in Europe. It will also improve the development of the online casino and sports betting goals internationally.

Attributes To Navigate the Global Arena

  1. Premeditated Opportunities to Hasten Product Offerings and Growth – the European digital gaming company’s capabilities and firm customer base outside of the United States are needed to maximise the presence of MGM Resort worldwide.
  2. Professional Digital Casino Management Panel and Top-notch Technology Capabilities – the gaming company’s management team can develop a scalable and massive technology forum with superior product offerings.
  3. Commitment to Progressive Profitable Development – LeoVegas has demonstrated profitable operations and a high growth space since 2014. Its revenue compounded a yearly growth rate of 16% while ensuring steady profitability from 2017 to 2021. MGM Resorts’ brand, scale, and expertise will let the joint businesses grow within the existing casino segments and offer incremental opportunities to access new sections.

Conclusion

The expected acceptance period will begin in or around June 2022 and end in or around August 2022. A document about the offer is anticipated to be publicised before the beginning of the acceptance phase. If the offer is termed unconditional before late august, the settlement will be estimated to commence in early September 2022. Additionally, the offer will be subject to some regulations and approvals, such as receiving valid tenders of above 90% shares and customary closure conditions of LeoVegas. It is anticipated to end in the second term of the financial year, 2022.

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Jacob Evans Written by Jacob Evans
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